RigNet (RNET) 8-K Regulation FD Disclosure

Exhibit 99

Recast Segment Selected Financial Data for the

2014 and 2013 Quarterly Periods

RigNet, Inc. (the Company), a leading global technology solutions provider to the oil and gas industry, presents the following recast segment selected financial data for the 2014 and 2013 quarterly periods, recast based on the Company’s current reportable segments.

As part of the Company’s continuous review of its business and in connection with the acquisition of Inmarsat’s Enterprise Energy business unit in January of 2014, the Company evaluated its current core assets and operations, and organized them into segments. The company is now presenting Telecoms Systems Integration as a separate reportable segment, as this is now a greater portion of the company’s core assets and operations due to the acquisition of Inmarsat’s Enterprise Energy business unit. Certain operating segments are aggregated into one reportable segment based on similar economic characteristics. Accordingly, RigNet now considers its business to consist of three reportable segments:

• Eastern Hemisphere.The Eastern Hemisphere segment provides remote communications services for offshore drilling rigs and production facilities, as well as, energy support vessels and other remote sites. The Eastern Hemisphere segment services are primarily performed out of the Company’s Norway, United Kingdom, Qatar, and Singapore based offices for customers and rig sites located on the eastern side of the Atlantic Ocean primarily off the coasts of the United Kingdom, Norway, West Africa, around the Indian Ocean in Qatar, Saudi Arabia and India, around the Pacific Ocean near Australia, and within the South China Sea.

• Western Hemisphere.The Western Hemisphere segment provides remote communications services for offshore and onshore drilling rigs and production facilities, as well as, energy support vessels and other remote sites. The Western Hemisphere segment services are primarily performed out of the Company’s United States and Brazil based offices for onshore and offshore customers and rig sites located on the western side of the Atlantic Ocean primarily in the United States, Canada, Mexico and Brazil, and within the Gulf of Mexico.

• Telecoms Systems Integration (TSI).The TSI segment designs, assembles, installs and commissions turn-key solutions for customer telecommunications systems. TSI segment solutions are custom designed and engineered turn-key solutions based on the customer’s specifications, as well as, international industry standards and best practices. TSI projects include consultancy services, design, engineering, project management, procurement, testing, installation, commissioning and after-sales service. The TSI segment services are primarily performed out of the Company’s United Kingdom and United States based offices for customers globally.

Corporate and eliminations primarily represents unallocated corporate office activities, interest expenses, income taxes and eliminations.

Segment information has been prepared consistent with the components of the enterprise for which separate financial information is available and regularly evaluated by the chief operating decision-maker for the purpose of allocating resources and assessing performance. Selected segment information for the quarterly periods of 2014 and 2013 is presented below. Prior year information has been recast to conform to the current year presentation.

Selected Financial Data

	Three Months Ended
	March 31,
	2014
	(in thousands)
Eastern Hemisphere:
Revenue	$	38,022
Cost of revenue		18,693
Gross Profit (non-GAAP measure)		19,329
Gross Profit margin		50.8	%
Depreciation and amortization		2,723
Selling, general and administrative		2,984
Operating income	$	13,622
Adjusted EBITDA (non-GAAP measure)	$	16,691
Adjusted EBITDA margin		43.9	%
Western Hemisphere:
Revenue	$	21,408
Cost of revenue		12,672
Gross Profit (non-GAAP measure)		8,736
Gross Profit margin		40.8	%
Depreciation and amortization		2,763
Selling, general and administrative		2,289
Operating income	$	3,684
Adjusted EBITDA (non-GAAP measure)	$	6,580
Adjusted EBITDA margin		30.7	%
Telecoms Systems Integration:
Revenue	$	15,613
Cost of revenue		12,942
Gross Profit (non-GAAP measure)		2,671
Gross Profit margin		17.1	%
Depreciation and amortization		1,055
Selling, general and administrative		653
Operating income	$	963
Adjusted EBITDA (non-GAAP measure)	$	2,011
Adjusted EBITDA margin		12.9	%
Corp/Eliminations
Revenue	$	—
Cost of revenue		2,214
Gross Profit (non-GAAP measure)		(2,214	)
Gross Profit margin
Depreciation and amortization		256
Selling, general and administrative		10,446
Operating income	$	(12,916	)
Adjusted EBITDA (non-GAAP measure)	$	(9,074	)
Consolidated
Revenue	$	75,043
Cost of revenue		46,521
Gross Profit (non-GAAP measure)		28,522
Gross Profit margin		38.0	%
Depreciation and amortization		6,797
Selling, general and administrative		16,372
Operating income	$	5,353
Adjusted EBITDA (non-GAAP measure)	$	16,208
		21.6	%

Includes acquired Inmarsat’s Enterprise Energy business unit operations beginning February 1, 2014

	Three Months Ended												Year Ended
	March 31,			June 30,			September 30,			December 31,			December 31,
	2013			2013			2013			2013			2013
				(in thousands)
Eastern Hemisphere:
Revenue	$	28,615		$	31,185		$	33,285		$	35,902		$	128,987
Cost of revenue		13,199			13,607			15,081			16,939			58,826
Gross Profit (non-GAAP measure)		15,416			17,578			18,204			18,963			70,161
Gross Profit margin		53.9	%		56.4	%		54.7	%		52.8	%		54.4	%
Depreciation and amortization		1,943			2,122			2,219			2,417			8,701
Selling, general and administrative		3,523			4,614			2,960			3,851			14,948
Operating income	$	9,950		$	10,842		$	13,025		$	12,695		$	46,512
Adjusted EBITDA (non-GAAP measure)	$	12,633		$	13,446		$	14,817		$	15,074		$	55,970
Adjusted EBITDA margin		44.1	%		43.1	%		44.5	%		42.0	%		43.4	%
Western Hemisphere:
Revenue	$	12,415		$	13,141		$	13,884		$	14,781		$	54,221
Cost of revenue		5,281			6,149			6,734			6,898			25,062
Gross Profit (non-GAAP measure)		7,134			6,992			7,150			7,883			29,159
Gross Profit margin		57.5	%		53.2	%		51.5	%		53.3	%		53.8	%
Depreciation and amortization		1,794			1,848			1,924			1,583			7,149
Selling, general and administrative		1,677			2,090			2,000			2,080			7,847
Operating income	$	3,663		$	3,054		$	3,226		$	4,220		$	14,163
Adjusted EBITDA (non-GAAP measure)	$	5,417		$	4,855		$	5,142		$	5,545		$	20,959
Adjusted EBITDA margin		43.6	%		36.9	%		37.0	%		37.5	%		38.7	%
Telecoms Systems Integration:
Revenue	$	11,788		$	7,003		$	9,687		$	9,024		$	37,502
Cost of revenue		9,331			4,703			8,180			7,355			29,569
Gross Profit (non-GAAP measure)		2,457			2,300			1,507			1,669			7,933
Gross Profit margin		20.8	%		32.8	%		15.6	%		18.5	%		21.2	%
Depreciation and amortization		1,085			1,075			1,088			1,121			4,369
Selling, general and administrative		130			284			306			337			1,057
Operating income	$	1,242		$	941		$	113		$	211		$	2,507
Adjusted EBITDA (non-GAAP measure)	$	2,327		$	2,016		$	1,201		$	1,337		$	6,881
Adjusted EBITDA margin		19.7	%		28.8	%		12.4	%		14.8	%		18.3	%
Corp/Eliminations
Revenue	$	—		$	—		$	—		$	—		$	—
Cost of revenue		1,311			1,468			1,145			1,500			5,424
Gross Profit (non-GAAP measure)		(1,311	)		(1,468	)		(1,145	)		(1,500	)		(5,424	)
Gross Profit margin
Depreciation and amortization		147			204			219			260			830
Selling, general and administrative		7,217			5,571			8,707			7,208			28,703
Operating income	$	(8,675	)	$	(7,243	)	$	(10,071	)	$	(8,968	)	$	(34,957	)
Adjusted EBITDA (non-GAAP measure)	$	(7,756	)	$	(6,415	)	$	(6,710	)	$	(6,751	)	$	(27,632	)
Consolidated
Revenue	$	52,818		$	51,329		$	56,856		$	59,707		$	220,710
Cost of revenue		29,122			25,927			31,140			32,692			118,881
Gross Profit (non-GAAP measure)		23,696			25,402			25,716			27,015			101,829
Gross Profit margin		44.9	%		49.5	%		45.2	%		45.2	%		46.1	%
Depreciation and amortization		4,969			5,249			5,450			5,381			21,049
Selling, general and administrative		12,547			12,559			13,973			13,476			52,555
Operating income	$	6,180		$	7,594		$	6,293		$	8,158		$	28,225
Adjusted EBITDA (non-GAAP measure)	$	12,621		$	13,902		$	14,450		$	15,205		$	56,178
		23.9	%		27.1	%		25.4	%		25.5	%		25.5	%

Does not include Inmarsat’s Enterprise Energy business unit, as RigNet owned these operations beginning February 1, 2014.

	Three Months Ended
	March 31, 2014
	(in thousands)
Reconciliation of Gross Profit to Gross Profit (excluding depreciation and amortization):
Gross profit	$	22,054
Depreciation and amortization related to cost of revenue		6,468
Gross Profit (excluding depreciation and amortization)	$	28,522

Includes acquired Inmarsat’s Enterprise Energy business unit operations beginning February 1, 2014

	Three Months Ended
	March 31, 2014
	(in thousands)
Reconciliation of Net Income to Adjusted EBITDA:
Net income	$	2,308
Interest expense		481
Depreciation and amortization		6,797
(Gain) on sales of property, plant and equipment, net of retirements		(73	)
Stock-based compensation		1,148
Acquisition costs		2,332
Income tax expense		3,215
Adjusted EBITDA (non-GAAP measure)	$	16,208

Includes acquired Inmarsat’s Enterprise Energy business unit operations beginning February 1, 2014

	Three Months Ended									Year Ended
	March 31,		June 30,		September 30,		December 31,			December 31,
	2013		2013		2013		2013			2013
			(in thousands)
Reconciliation of Gross Profit to Gross Profit (excluding depreciation and amortization):
Gross profit	$	18,968	$	20,414	$	20,564	$	22,004		$	81,950
Depreciation and amortization related to cost of revenue		4,728		4,988		5,152		5,011			19,879
Gross Profit (excluding depreciation and amortization)	$	23,696	$	25,402	$	25,716	$	27,015		$	101,829
Does not include Inmarsat’s Enterprise Energy business unit, as RigNet owned these operations beginning February 1, 2014
	Three Months Ended									Year Ended
	March 31,		June 30,		September 30,		December 31,			December 31,
	2013		2013		2013		2013			2013
			(in thousands)
Reconciliation of Net Income to Adjusted EBITDA:
Net income	$	3,775	$	4,915	$	2,407	$	5,447		$	16,544
Interest expense		507		440		432		904			2,283
Depreciation and amortization		4,969		5,249		5,450		5,381			21,049
(Gain) loss on sales of property, plant and equipment, net of retirements		41		33		93		(101	)		66
Stock-based compensation		817		713		696		737			2,963
Acquisition costs		-		-		2,791		1,324			4,115
Income tax expense		2,512		2,552		2,581		1,513			9,158
Adjusted EBITDA (non-GAAP measure)	$	12,621	$	13,902	$	14,450	$	15,205		$	56,178
Does not include Inmarsat’s Enterprise Energy business unit, as RigNet owned these operations beginning February 1, 2014

Non-GAAP Financial Measures

This Current Report on Form 8-K contains the following non-GAAP measures: Gross Profit (excluding depreciation and amortization) and Adjusted EBITDA. Gross Profit (excluding depreciation and amortization) and Adjusted EBITDA are financial measures that are not calculated in accordance with generally accepted accounting principles, or GAAP. We refer you to the Company’s most recent 10-K filing for the year ended December 31, 2013, for a more detailed discussion of the uses and limitations of our non-GAAP financial measures.

GAAP defines gross profit as revenue less cost of revenue, and includes in costs of revenue depreciation and amortization expenses related to revenue-generating long-lived and intangible assets. We define Gross Profit (excluding depreciation and amortization) as revenue less cost of revenue (excluding depreciation and amortization). This measure differs from the GAAP definition of gross profit as we do not include the impact of depreciation and amortization expenses related to revenue-generating long-lived and intangible assets which represent non-cash expenses. We use this measure to evaluate operating margins and the effectiveness of cost management.

We define Adjusted EBITDA as net income (loss) plus interest expense, income tax expense (benefit), depreciation and amortization, impairment of goodwill, (gain) loss on retirement of property and equipment, change in fair value of derivatives, stock-based compensation and IPO or merger/acquisition costs and related bonuses. Adjusted EBITDA should not be considered as an alternative to net income (loss), operating income (loss) or any other measure of financial performance calculated and presented in accordance with GAAP.

About RigNet

RigNet (NASDAQ: RNET) is a leading global provider of managed remote communications, telecoms systems integration and collaborative applications dedicated to the oil and gas industry, focusing on offshore and onshore drilling rigs, energy production facilities and energy maritime vessels. RigNet provides solutions ranging from fully-managed voice and data networks to more advanced applications that include video conferencing and real-time data services to over 1,100 remote sites in over 45 countries on six continents, effectively spanning the drilling and production industry. RigNet is based in Houston, Texas. For more information, please visitwww.rig.net. RigNet is a registered trademark of RigNet, Inc.

Forward Looking Statements

This Current Report on Form 8-K press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995 – that is, statements related to the future, not past, events. Forward-looking statements are based on the current expectations and include any statement that does not directly relate to a current or historical fact. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as “anticipate,” “believe,” “intend,” “expect,” “plan” or other similar words. These forward-looking statements involve certain risks and uncertainties that ultimately may not prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. For further discussion of risks and uncertainties, individuals should refer to RigNet’s SEC filings. RigNet undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.